Now the market also seems worried about the rise in wheat prices. Mills are now quoting prices from 2850 to 2900. It is feared that if the government does not start wheat sales soon, then in the future, mill quality wheat will start selling at Rs 3000 due to festival demand.
Wheat prices are rising
In such a situation, the mills did not hold much goods. Now the stock is very less. As a result, prices are rising. Despite the festive season approaching, the prices are gradually increasing due to the central government not giving the stock kept in the warehouses to the open market. At present, there is a lot of stock of wheat in the central pool.
It is understood that in the initial phase, the government can fix a stock of 25 lakh tonnes of wheat for sale under OMSS. Bulk buyers-flour millers and processors are in dire need of government wheat right now as the arrival of this important food grain in the domestic markets is very weak and prices are running high.
Wheat sales expected to start from next month
It is expected that wheat sales may start from next month. In the last financial year, from 28 June 2023 to 28 February 2024, a record sale of more than 94 lakh tonnes of wheat was made from the central pool. Meanwhile, the prices of flour and maida have also started increasing in the market.
